GE Energy To Pour $42M Into Indian Hydro-Power Project

Law360, New York (August 2, 2013, 6:07 PM EDT) -- A General Electric Co. unit has agreed to pour in some 257 crore rupees ($42 million) into a 110-megawatt hydropower project in the northeast of India undertaken by Indian infrastructure firm Gati Infrastructure Private Ltd., the firms said Tuesday.

GE Energy Financial Services, which invested in the project through a so-called share subscription agreement, said the Chuzachen project in the Himalayan state Sikkim costs about 1188 crore rupees ($194 million), according to a statement by the firms.